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Investment in Unconsolidated Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Summary of Investments in Unconsolidated Joint Ventures | The following is a summary of our investment in unconsolidated joint ventures:
|  | June 30, 2022 |  | December 31, 2021
Assets (1) |  |  |  |
Assets held for sale |  | $ | 1,119,125 |  |  | $ | 1,135,769 |
Real estate |  | 142,481 |  |  | 142,629 |
Other assets |  | 62,686 |  |  | 69,457 |
Total assets |  | $ | 1,324,292 |  |  | $ | 1,347,855 |
Liabilities and Partners' Capital (1) |  |  |  |
Liabilities on assets held for sale |  | $ | 796,076 |  |  | $ | 807,382 |
Mortgage notes payable |  | 86,478 |  |  | 83,955 |
Mezzanine notes payable |  | 238,952 |  |  | 242,942 |
Other liabilities |  | 34,512 |  |  | 25,970 |
Our share of partners' capital |  | 73,623 |  |  | 80,602 |
Outside partner's capital |  | 94,651 |  |  | 107,004 |
Total liabilities and partners' capital |  | $ | 1,324,292 |  |  | $ | 1,347,855 |
Investment in unconsolidated joint ventures |  |  |  |
Our share of partners' capital |  | $ | 73,623 |  |  | $ | 80,602 |
Our share of Mezzanine note payable |  | 123,512 |  |  | 125,306 |
Basis adjustment (2) |  | (137,884) |  |  | (144,287) |
Total investment in unconsolidated joint ventures |  | $ | 59,251 |  |  | $ | 61,621 |
(1) These amounts include the assets of VAA of $1,261,647 and $1,280,867 at June 30, 2022 and December 31, 2021, respectively, and liabilities of VAA of $332,353 and $329,891 at June 30, 2022 and December 31, 2021, respectively. (2) We amortize the difference between the cost of our investments in unconsolidated joint ventures and the book value of our underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The following is a summary of income from our investments in unconsolidated joint ventures:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue (1) |  |  |  |  |  |  |
Rental revenue | $ | 4,032 |  |  | $ | 3,613 |  |  | $ | 7,963 |  |  | $ | 7,135 |
Other revenue | 15,901 |  |  | 15,842 |  |  | 25,702 |  |  | 29,673 |
Total revenue | 19,933 |  |  | 19,455 |  |  | 33,665 |  |  | 36,808 |
Expenses (2) |  |  |  |  |  |  |
Operating expenses | 25,060 |  |  | 16,385 |  |  | 36,531 |  |  | 30,818 |
Depreciation and amortization | 1,134 |  |  | 1,199 |  |  | 2,322 |  |  | 2,398 |
Interest | 6,253 |  |  | 5,999 |  |  | 12,028 |  |  | 11,937 |
Total expenses | 32,447 |  |  | 23,583 |  |  | 50,881 |  |  | 45,153 |
Loss from continuing operations | (12,514) |  |  | (4,128) |  |  | (17,216) |  |  | (8,345) |
Income from discontinued operations | 4,512 |  |  | 686 |  |  | 7,948 |  |  | 3,342 |
Net loss | $ | (8,002) |  |  | $ | (3,442) |  |  | $ | (9,268) |  |  | $ | (5,003) |
Equity in the income in unconsolidated joint ventures | $ | 2,048 |  |  | $ | 4,572 |  |  | $ | 7,242 |  |  | $ | 7,908 |
(1) These amounts include revenue of VAA of $4,268 and $3,802 for the three months ended June 30, 2022 and 2021, respectively, and $8,341 and $7,481 during the six months ended June 30, 2022 and 2021, respectively. (2) These amounts include expenses of VAA of $17,486 and $9,246 for the three months ended June 30, 2022 and 2021, respectively, and $26,665 and $17,997 during the six months ended June 30, 2022 and 2021, respectively.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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